BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys Shares of 225 AppFolio, Inc. $APPF

BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 225 shares of the software maker’s stock, valued at approximately $52,000.

Other hedge funds have also made changes to their positions in the company. New York State Teachers Retirement System grew its position in shares of AppFolio by 80.8% in the first quarter. New York State Teachers Retirement System now owns 8,773 shares of the software maker’s stock valued at $1,929,000 after purchasing an additional 3,922 shares in the last quarter. Northern Trust Corp grew its position in shares of AppFolio by 0.8% in the first quarter. Northern Trust Corp now owns 193,780 shares of the software maker’s stock valued at $42,612,000 after purchasing an additional 1,493 shares in the last quarter. HighTower Advisors LLC grew its position in shares of AppFolio by 94.1% in the first quarter. HighTower Advisors LLC now owns 2,882 shares of the software maker’s stock valued at $634,000 after purchasing an additional 1,397 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in shares of AppFolio in the second quarter valued at approximately $288,000. Finally, Bank of New York Mellon Corp increased its stake in AppFolio by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 208,319 shares of the software maker’s stock worth $45,809,000 after acquiring an additional 1,183 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

Analyst Ratings Changes

APPF has been the subject of several recent analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of AppFolio in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods raised AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 target price for the company in a research note on Friday, October 24th. DA Davidson cut their target price on AppFolio from $375.00 to $325.00 and set a “buy” rating for the company in a research note on Friday, October 31st. KeyCorp cut their target price on AppFolio from $285.00 to $270.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Finally, Piper Sandler raised AppFolio from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $240.00 to $350.00 in a research note on Friday, August 1st. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $310.20.

Insiders Place Their Bets

In other news, CEO William Shane Trigg sold 4,000 shares of AppFolio stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $276.95, for a total value of $1,107,800.00. Following the completion of the sale, the chief executive officer directly owned 59,556 shares of the company’s stock, valued at approximately $16,494,034.20. The trade was a 6.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Matthew S. Mazza sold 1,636 shares of AppFolio stock in a transaction on Monday, September 15th. The shares were sold at an average price of $276.98, for a total value of $453,139.28. Following the completion of the transaction, the insider owned 25,015 shares of the company’s stock, valued at approximately $6,928,654.70. This trade represents a 6.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 39,003 shares of company stock valued at $10,857,891. Insiders own 4.68% of the company’s stock.

AppFolio Trading Down 1.2%

Shares of NASDAQ APPF opened at $257.50 on Thursday. AppFolio, Inc. has a twelve month low of $190.24 and a twelve month high of $326.04. The stock has a fifty day simple moving average of $259.40 and a 200-day simple moving average of $245.76. The stock has a market capitalization of $9.23 billion, a PE ratio of 46.23 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, October 30th. The software maker reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.14). AppFolio had a net margin of 22.48% and a return on equity of 25.97%. The firm had revenue of $249.35 million during the quarter, compared to analyst estimates of $245.39 million. During the same period in the previous year, the firm posted $1.29 earnings per share. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. AppFolio has set its FY 2025 guidance at EPS. On average, equities analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

About AppFolio

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.